No concessions given to China for trade accords: Mexico

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IANS/EFE | 08 Jun, 2013
A senior Mexican trade official said agreements with China to bolster bilateral relations, open the Asian giant's market to certain Mexican products and resolve trade disputes were reached without "any concessions or compensation".

Deputy Foreign Trade Secretary Francisco de Rosenzweig said in a press conference that during Chinese President Xi Jinping's official visit to Mexico, which began Tuesday and ended Thursday, progress made in three trade sectors.

The official said Beijing pledged to open up access to its tequila and pork markets, as well to resolve "in the near future" a trade dispute over Chinese textile exports that Mexico - alleging illegal subsidies - has brought before the World Trade Organization.

Rosenzweig said China is Mexico's second-leading trade partner overall and biggest in the Asia-Pacific region. He noted that 80 percent of Chinese exports are intermediate and capital goods, "which have boosted the country's productivity, especially in manufacturing".

During the Chinese president's three-day visit, he and Mexican counterpart Enrique Peña Nieto agreed to form a "strategic comprehensive partnership" to bolster their political and trade ties, as well as lay the foundation for promoting Chinese investment in the Latin American country.

The two leaders also agreed to seek greater balance in the bilateral trade relationship, which currently heavily favours China.

In 2012, Mexico's exports to China were valued at USD 5.7 billion, while imports from the Asian nation came in at USD 56.9 billion.